Celadon Launches Online Trucker Co-Op
February 7, 2000
Truckload fleet Celadon and GE Capital have launched TruckersCo-op.com, a site designed to provide discounts on items such as fuel, tires, parts, calling cards, insurance,
trailer leasing, credit cards, truck financing and truck washes.
"Of the more than 200,000 trucking companies in the U.S., the top 100 represent substantially less than 10 percent of the millions of commercial tractors. The balance pay retail for their services," according to Stephen Russell, Celadon Group's chairman and CEO.
"Margins are shrinking in the trucking business, as a result of wage pressures and higher fuel costs, and the typical small to mid-size trucking companies can benefit from economies of scale in purchasing."
Other companies investing in TruckersCo-op.com include Sycamore Ventures, in which Citigroup, Inc. is an investor, and Hanseatic Corporation. Principals of Sycamore and Hanseatic are members of Celadon's board of directors.